This intervention caused a growing distortion in the global cost of capital, significantly reducing long-term interest rates and helping to inflate the real estate bubble in the United States, with ultimately disastrous consequences.
In 1995, as the crisis in Bosnia approached its climax, America was suffering from what might be called "Vietmalia syndrome," a hesitancy toward military intervention caused by a combination of our awful experiences in Vietnam and, more recently, in Somalia.
Guatemalan society has only recently recovered from the suffering that this intervention caused, including brutal military dictatorships and a genocidal civil war against its Indian population, which led to the deaths of an estimated 200,000 people.
His administration was also impeded by the refusal of the U.S. government to recognize his regime, and revolts and the threat of U.S. intervention caused him to resign in 1919.
Throughout the Nato intervention, Lavrov said Russia would not recognise the rebels (although that is what they ended up doing), that there was no UN mandate for a ground forces operation, that the Nato intervention caused more casualties than would otherwise have occurred.
And Ali Rodriguez, Venezuela's oil minister and OPEC's president, has hinted that if a further intervention caused a big fall in the price of oil OPEC would reduce production to push it up again.There are several reasons to doubt the president's judgment in this matter.
